We're Starting To Get An Idea Of What JP Morgan's 2nd Quarter Numbers Will Be — And They're Vicious

Ever since JP Morgan's London Chief Investment Office revealed a
$2 billion trading loss last month, Wall Street (and the world)
have been waiting for the carnage to stop. After all, once the
sharks on The Street found out the CIO was vulnerable there was
no question that they would attack.

Now
Bloomberg Businessweek has some research from the
International Strategy & Investment Group Inc. on how all of
this will impact Q2 numbers in general. Frankly, they're not for
those with weak stomachs. First of all, the ISI is
estimating that the trading loss for the CIO in Q2 alone will
amount to about $4.2 billion.

And there's what this whole debacle about what will happen to the
bank's share price:

The pretax loss would help cut second-quarter earnings to
65 cents a share, a 30 percent decline from an earlier
estimate of 93 cents...